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InsurTech news

Insurance and reinsurance technology related news, focused on the wave of interest in InsurTech start-ups, investing in insurance technology initiatives, as well as reinsurance tech start-ups or ReinsurTech.

Gov-backed UK insurtech initiative announces legal toolkit for start-ups

13th March 2019

The UK Insurtech Board, an initiative facilitated by Tech Nation as part of the Fintech Delivery Panel (FDP) convened by HM Treasury, has announced the launch of a new toolkit of legal documents to assist start-ups in building relationships with insurance incumbents. The suite of legal documents was developed to address ... Read the full article

Technology is key to closing ASEAN protection gap, report execs

12th March 2019

New digital technologies represent the most promising remedy to closing the significant non-life insurance protection gap in Southeast Asia, according to the results of the ASEAN Insurance Pulse 2018 report by Alms & Company and Malaysian Re. The report, which surveyed key re/insurance executives from across the Association of Southeast Asian ... Read the full article

Hannover Re eyes InsurTech innovation with launch of hr | equarium

12th March 2019

Global reinsurance player Hannover Re has announced the launch of hr | equarium, an online platform designed to better connect InsurTech solutions with the insurance industry. Hannover Re has identified digital disruption, shifting demographics and evolving buyer preferences as having created a challenging operating environment for insurers. Subsequently, the company designed hr ... Read the full article

Argo Group joins GBN Worldwide re/insurance network

11th March 2019

Specialty re/insurer Argo Group International Holdings has announced that it has become a member and network partner of GBN Worldwide, a global network of re/insurers, independent brokers, and specialty suppliers. Operating in more than 140 countries, brokers and local insurance companies in the GBN network grant partners mutual market access across ... Read the full article

Insurtech firm Hippo Insurance integrates Verisk solutions

8th March 2019

Hippo Insurance, a California-based insurtech company focused on home insurance, has announced that it has integrated Verisk solutions into its full range of products. By using data from Verisk, Hippo says it can automatically fill in the information needed to quote and bind a home insurance policy and supply customers with ... Read the full article

AXA XL and Assurely partner on crowdfunding investor protection

7th March 2019

AXA XL has partnered with insurtech firm Assurely on an insurance product for issuers and investors that safeguards new online capital formation strategies, including equity crowdfunding and security token offerings (STOs). The product, called CrowdProtector, provides issuers protection against investor complaints and lawsuits, and communicates to investors that they may have ... Read the full article

Berkshire Hathaway GUARD partners with AI platform Planck

7th March 2019

Berkshire Hathaway GUARD Insurance Companies, a U.S subsidiary of Warren Buffett’s global re/insurance company, is partnering with Artificial Intelligence (AI) data platform Planck in an effort to optimise underwriting processes for its small and medium business segment. It’s hoped the insights provided by Planck will allow GUARD’s underwriters to focus on ... Read the full article

Machine learning tech can enhance wildfire modelling, says Swiss Re

6th March 2019

There is significant potential for machine learning technologies to enhance the re/insurance industry’s approach to modelling wildfire risk, which has failed to adequately predict the growing frequency of large losses in recent years, according to Swiss Re. The reinsurer stressed the possible advantages in utilising real-time data to complement probabilistic wildfire ... Read the full article

WTW partners with InsurTech massUP

6th March 2019

Global re/insurance broker Willis Towers Watson (WTW) has partnered with German InsurTech massUP with the aim of developing new insurance products and solutions. The strategic partnership, which is hoped will also enable the integration of technological processes and includes joint international distribution, follows existing collaboration efforts between massUp and Willis Re, ... Read the full article

Aon partners with software firm Skytek on marine risk accumulations

5th March 2019

Insurance and reinsurance broker Aon plc has partnered with software firm Skytek to provide real-time monitoring of re/insurers’ marine risks and to identify accumulations for enhanced underwriting and reinsurance programs. As part of the collaboration, Aon has established a new consultancy based on the Skytek system that uses real-time satellite tracking ... Read the full article

ChainThat to launch blockchain-powered risk, capital exchange

5th March 2019

A blockchain-powered risk and capital exchange for the re/insurance industry is set to be introduced in Bermuda later this year by ChainThat. The specialist blockchain solutions firm says this exchange will allow the transfer of risk and capital between direct insureds, brokers, cedants and captive insurers and insurance, reinsurance, industry loss ... Read the full article

Zurich acquires U.S insurtech firm Sea Pine Technologies

26th February 2019

Zurich North America has acquired 100% ownership of Sea Pine Technologies, a U.S insurtech firm that specialises in developing digital applications for the marketing of vehicle protection products. The insurer said the move would enable it to further expand its automotive Finance & Insurance (F&I) products and services for auto dealers ... Read the full article

Value of InsurTech deals up by 155% in Q4: Willis Towers Watson

25th February 2019

Global insurance and reinsurance broker, Willis Towers Watson, has said that the number of InsurTech deals announced globally in Q4 2018 increased by 24% to 63, with a total value of $1.59 billion, which is growth of 155% on the same period in 2017. This is according to the broker's Quarterly ... Read the full article

Swiss Re pilots satellite imaging for use in crop claim settlements

22nd February 2019

Global reinsurance giant Swiss Re has piloted the use of satellite imaging in the claim settlement process of its crop insurance scheme, according to a report by The Hindu Business Line. The use of satellite imaging can reportedly be used to quickly estimate the drought level or soil moisture content level ... Read the full article

SCOR Life & Health invests in startup HumanAPI

21st February 2019

SCOR Life & Health Ventures, a division of the France-headquartered reinsurer, has invested in health data consolidation platform HumanAPI as SCOR Global Life looks for ways to streamline the life insurance underwriting process. HumanAPI is a San Francisco-based company that allows a consumer to centralise and share their health data (from sources ... Read the full article

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